FERC Order on FTR Forfeitures Sample Clauses

FERC Order on FTR Forfeitures. On January 19, 2017, FERC determined that the application of the current FTR forfeiture rule to INCs, DECs and UTCs was unjust and unreasonable.40 In their determination, FERC ordered that a method should be developed to consider the net impact of a participant’s entire portfolio of virtual bids on a constraint related to an FTR position. The new rule will be more transparent and will depend on an individual participant’s net impact on a constraint. FERC also explicitly ordered counter flow FTRs to be considered for FTR forfeiture. In response to this, PJM determined that no FTR forfeitures will be billed to participants after January 19, 2017, under the prior rules. Instead, participants will be retroactively billed their FTR forfeiture amounts based on the new FTR forfeiture rule once it is in place. Until January 19, 2017, an FTR Holder may be subject to forfeiture of any profits from an FTR if it meets the criteria defined in Section 5.2.1 (b) of Schedule 1 of the PJM Operating Agreement. If a participant has a cleared increment offer or decrement bid for an applicable hour at or near the source or sink of any FTR they own and the day-ahead congestion LMP difference is greater than the real-time congestion LMP difference the profits from that FTR may be subject to forfeiture for that hour. An increment offer or decrement bid is considered near the source or sink point if 75 percent or more of the energy injected or withdrawn, and which is withdrawn or injected at any other bus, is reflected on the constrained path between the FTR source or sink. This rule only applies to increment offers and decrement bids that would increase the price separation between the FTR source and sink points. After January 19, 2017, participants will be subject to the new FTR forfeiture rule. PJM began retroactively billing forfeitures back to January 19, 2017, and billing for the prompt month FTR forfeitures, starting with the September bill. PJM will continue billing one retroactive month concurrently with the prompt month until all retroactive months are billed. This rule considers the impact of a participant’s net virtual transaction portfolio on all constraints. If a participant’s net virtual portfolio impacts a constraint by the greater of 0.1 MW or 10 percent or more of the line limit, and that constraint affects an individual FTR’s target allocation by $0.01, the FTR is subject to FTR forfeiture if the net virtual portfolio increased the value of the FTR. FTR forfeitu...
Sample 1See All (4)
AutoNDA by SimpleDocs
FERC Order on FTR Forfeitures. On January 19, 2017, FERC determined that the application of the current FTR forfeiture rule to INCs, DECs and UTCs was unjust and unreasonable.38 In their determination, FERC ordered that a method should be developed to consider the net impact of a participant’s entire portfolio of virtual bids on a constraint related to an FTR position. The new rule will be more transparent and will depend on an individual participant’s net impact on a constraint. FERC also explicitly ordered counter flow FTRs to be considered for FTR forfeiture. In response to this, PJM determined that no FTR forfeitures will be billed to participants after January 19, 2017, under the prior rules. Instead, participants will be retroactively billed their FTR forfeiture amounts based on the new FTR forfeiture rule once it is in place. 2011/2012 $512.2 $249.8 $770.6 $762.0 98.9 83.3 $762.0 $598.6 ($163.4) $113.9 2012/2013 $349.5 $181.9 $575.8 $531.4 92.3 68.0 $531.4 $275.9 ($255.5) $62.1 2013/2014 $337.7 $456.4 $1,777.1 $794.0 44.7 43.2 $794.0 $574.1 ($219.9) $0.0 2014/2015 $482.4 $404.4 $1,390.9 $886.8 63.8 57.2 $886.8 $686.6 ($200.2) $400.6 2015/2016 $635.3 $223.4 $992.6 $858.8 86.5 78.2 $858.8 $744.8 ($113.9) $188.9 2016/2017 $640.0 $169.1 $824.6 $809.1 98.1 89.5 $809.1 $727.7 ($81.4) $179.0 Total $2,957.1 $1,684.9 $6,331.6 $4,642.1 73.3 65.0 $4,642.1 $3,607.8 ($1,034.2) $944.4 38 See 158 FERC ¶ 61,038 (2017).
Sample 1
FERC Order on FTR Forfeitures. On January 19, 2017, FERC determined that the application of the current FTR forfeiture rule to INCs, DECs and UTCs was unjust and unreasonable.67 In their determination, FERC ordered that a method should be developed to consider the net impact of a participant’s entire portfolio of virtual bids on a constraint
Sample 1

Related to FERC Order on FTR Forfeitures

  • Rollovers of Xxxx Elective Deferrals Xxxx elective deferrals distributed from a 401(k) cash or deferred arrangement, 403(b) tax-sheltered annuity, 457(b) eligible governmental deferred compensation plan, or federal Thrift Savings Plan, may only be rolled into your Xxxx XXX.

  • Rollovers of Exxon Xxxxxx Settlement Payments If you receive a qualified settlement payment from Exxon Xxxxxx litigation, you may roll over the amount of the settlement, up to $100,000, reduced by the amount of any qualified Exxon Xxxxxx settlement income previously contributed to a Traditional or Xxxx XXX or eligible retirement plan in prior taxable years. You will have until your tax return due date (not including extensions) for the year in which the qualified settlement income is received to make the rollover contribution. To obtain more information on this type of rollover, you may wish to visit the IRS website at xxx.xxx.xxx.

  • System for Award Management (XXX) Requirement Alongside a signed copy of this Agreement, Grantee will provide Florida Housing with a XXX.xxx proof of registration and Commercial and Government Entity (CAGE) number. Grantee will continue to maintain an active XXX registration with current information at all times during which it has an active award under this Agreement.

  • Coverage Under Only One Plan For purposes of (a) and (b) above, if the employee’s adult child (age 18 to 26) works for the State or another organization participating in the State’s Group Insurance Program, the child may not be covered as a dependent by the employee unless the child is not eligible for a full Employer Contribution as defined in Section 3A. Effective January 1, 2015 for purposes of (a) and (b) above, if the employee’s adult child (age 18 to 26) works for the State or another organization participating in the State’s Group Insurance Program, the child may be covered as a dependent by the employee.

  • Additional Procedures Applicable to High Value Accounts 1. If a Preexisting Individual Account is a High Value Account as of December 31, 2013, the Reporting [FATCA Partner] Financial Institution must complete the enhanced review procedures described in paragraph D of this section with respect to such account by December 31, 2014. If based on this review, such account is identified as a U.S. Reportable Account, the Reporting [FATCA Partner] Financial Institution must report the required information about such account with respect to 2013 and 2014 in the first report on the Account. For all subsequent years, information about the account should be reported on an annual basis.

  • Hearing Dates and Date of Award Except for the Expedited Arbitration procedure described above, hearing dates shall be scheduled within thirty (30) working days of selection of an arbitrator or on the next practicable date mutually agreeable to the parties. Awards shall be due forty-five (45) calendar days following the receipt of closing arguments. As a condition of appointment to the permanent panel, arbitrators shall be advised of this requirement and shall certify their willingness to abide by these time limits.

  • Task Order Funding Restrictions No unfunded TOs are allowed; TOs may be incrementally funded in accordance with FAR and other agency funding restrictions. The Contracting Officer for each order is responsible for closing out the contract action that they issue. Notification that a closeout of an order is complete must be provided to the Procuring Contracting Officer (the Basic Contract) once accomplished. The contractor shall work in partnership with the Government to closeout orders as soon as possible after they are physically complete by using the "Quick Closeout" procedures described in FAR 42.708 as much as practical. In accordance with section 1427(b) of Public Law 108-136 a protest is not authorized in connection with the issuance or proposed issuance of an individual TO except a protest on the grounds that the order increases the scope, period, or maximum value of the contract under which the order is issued; or a protest of an order valued in excess of $10 million. Protests of orders in excess of $10 million may only be filed with the Government Accountability Office, in accordance with the procedures at FAR 33.104. H138 INCORPORATION OF LABOR CATEGORIES AND MAXIMUM LABOR RATES (NOV 2009) Successful offerors Labor Categories and Maximum Labor Rates will be incorporated in the resultant contract as Attachment 5 in Section J and shall be valid for the life of the contract. Applicable to following Labor Hour Line Items: 0300, 1300, 2300, 3300, 4300 H139 SMALL BUSINESS GRADUATE TRANSITION (NOV 2009) This clause is being included in the Application Services Full and Open contracts for informational purposes only.

  • Specific Order Processes and Requirements 1. Distributor will order Software from SAP using and filling out completely such forms and minimum order requirements as SAP may prescribe from time to time and must comply with any then-current order process for the specific Software product. Where applicable, Distributor agrees to use the electronic means provided by SAP for placing orders.

  • Funding Restrictions and Order Quantities The Agency reserves the right to reduce or increase estimated or actual quantities in whatever amount necessary without prejudice or liability to the Agency, if:

  • Conformance with Sample(s Submission of a sample (whether or not such sample is tested by, or for, the Commissioner) and approval thereof shall not relieve the Contractor from full compliance with all terms and conditions, performance related and otherwise, specified in the Bid Specifications. If in the judgment of the Commissioner the sample or product submitted is not in accordance with the specifications or testing requirements prescribed in the Bid Specifications, the Commissioner may reject the Bid. If an award has been made, the Commissioner may cancel the Contract at the expense of the Contractor.

Time is Money Join Law Insider Premium to draft better contracts faster.